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� <br />�����E����� Northco <br />Real �state Services <br />Prope�ty SoLutions WorJdwide <br />June 18, 20Q5 <br />Mayor Craig Klausing and <br />City Council <br />City of Raseville <br />2660 Civic Center Drive <br />Roseville, MN 551I3-1805 <br />Re: Twin Lakes — Yhase I Development; J�ne 20, 2005 Public Hearing Submittal <br />Dear Mayor Klausing and Councilmembers: <br />This letter is suhmitted as supplemental comments by Minnesota Industrial Venture, LLC <br />("MIV") far the public hearing on the Twin Lakes — Phase I deveIapment to be held <br />Manday, June 20, 2005. <br />MIV is the owner af properties within the propased Twin Lakes deveiapment in the <br />northeast quadrant of 35W and County Raad C. MIV objects to the proposed <br />authorization of taking by condemnation of any of the MIV properties, parti.cularIy those <br />recently identiiied in Area 8 of Twin Lakes �- Phase I, as contempIated in the <br />developrr�ent agreement befare you for approval on June 20, 2005. MIV will strenuously <br />oppose efforts to use eminent domain to acquire its properties. <br />As further expEained in the remainder of this letter, MIV opposes the inclusion in the <br />Twin Lakes Pl�ase I redevelopment plan of the passible use of condemnatian to acquire <br />the Area 8 properties because: <br />• The existing uses of the Area 8 praperties have been and continue to b� <br />campatible with nearby residential developrnent. <br />+ The cast of acquiring the Area 8 properti�s puts a financial strain on the <br />Twin Lakes Phase I project. <br />• The redevelopment of the Area 8 properties will result in the loss of well- <br />maintained office and inc[ustrial buildings, commercial tax base, and 81 <br />jobs in the City. <br />• The City cannot mo�e prornptly enough to acc�uire the Ar�a S properties <br />for the Twin Lakes Phase I project before the properties suffer substantial <br />"candemnation blight." <br />For these reasons, please remove Area 8 and the remainder of the M�V properties from <br />the plan and redevelopment agreement for the Twin Lakes — Phase I development and <br />from future phases of the Twin Lakes development as to any potential use of erriinent <br />domain or involuntary rezoning. <br />1Vort�l�co Real Est�ate �ervices � <br />Gruf�d & Eliis <br />4900 Vikiu� Drive Minneapolis, MN 55435-5314 952.82U.1600 952.82{?.162() i'ax http:llwww.uorthco.com K�rsnt��aax <br />IxrlePendentlt� Oiened ar�A Operrited Glo6al <br />